New York, Feb 2, 2026, 21:19 (EST) — Market closed
- Newmont shares closed a bit up following a choppy session marked by wild swings in bullion prices.
- Gold and silver plunged further following new margin increases and a change in Fed forecasts.
- Attention shifts to Tuesday’s metals sentiment, Friday’s U.S. jobs report, and Newmont’s results on Feb. 19.
Newmont shares ended Monday up 0.45%, closing at $112.85. The stock fluctuated between $110.48 and $116.25 as traders reacted to bullion’s late-session moves.
The stock’s close connection to gold grabbed attention again after an unusual two-day swing in precious metals. Gold tumbled roughly 5% on Monday, with silver plunging over 7%, following a historic selloff on Friday. The selloff came after Donald Trump nominated Kevin Warsh to replace Jerome Powell at the Federal Reserve—a shift some traders viewed as hawkish.
CME Group pushed prices further by raising margin requirements for precious-metals futures, with the new, higher cash deposits kicking in after Monday’s close. “Gold and silver are on a rollercoaster ride,” said John Meyer, analyst at SP Angel. Deutsche Bank’s Michael Hsueh added that the market conditions don’t seem “primed for a sustained reversal” in gold. Reuters
Newmont slid in premarket action as the metals sell-off hammered miners. Daniela Hathorn of Capital.com pointed to thin liquidity and “heightened sensitivity” to headlines as factors driving sharp intraday moves. Kitco
Stock moves in names like Newmont hinge on these mechanics. When futures margins climb, leveraged traders face pressure to add cash or trim positions. That often triggers swift selling in metals, sparking sharp knock-on effects in miners investors treat as liquid stand-ins.
JPMorgan Chase remains bullish on gold over the long haul, forecasting that central-bank and investor demand will push prices up to $6,300 an ounce by the end of 2026. This comes even after last week’s dip from record highs.
The downside scenario is straightforward: if bullion continues to fall and the dollar remains strong, miners’ operating leverage turns against them. For Newmont, even a hint that costs are outpacing prices or production falls short could drag the stock down, regardless of gold prices holding steady.
Tuesday’s focus: will gold and silver hold steady after the CME bumped up margins? The bigger macro event this week lands Friday with the U.S. employment report.
Next up for Newmont: the company plans to publish its Q4 and full-year 2025 results once North American markets close on Feb. 19. A conference call will follow at 5:30 p.m. EST.
